TITLE

Return on investment of a pharmacy residency training program

AUTHOR(S)
Pasek, Peter A.; Stephens, Carolyn
PUB. DATE
November 2010
SOURCE
American Journal of Health-System Pharmacy;11/15/2010, Vol. 67 Issue 22, p1952
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Purpose. The return on investment of pharmacy residency training at a Veterans Affairs hospital was estimated. Methods. The financial costs and benefits associated with one year's training of eight residents were estimated retrospectively. The costs were compared with estimated costs for training newly hired pharmacists without institutional experience. The residents' work output as measured by notations in progress notes was compared with that of their pharmacist preceptors, and this ratio was used in establishing an amount the institution would be willing to pay for a resident's output. Results. The estimated benefit-to-cost ratio for the residency program was favorable. Hiring its residents rather than new, untrained pharmacists for full-time positions was estimated to benefit the hospital. Conclusion. The benefit-to-cost ratio of the residency training program was estimated to be 1.5:1. Resident productivity was estimated to save the institution $563,936 annually.
ACCESSION #
55041775

 

Related Articles

  • Survey: Some Firms Plan To Hire in Fourth Quarter. Allen, Mike // San Diego Business Journal;9/19/2011, Vol. 32 Issue 38, p28 

    The article offers information on the Manpower Employment Outlook Survey conducted by Manpower Group which shows that 16% will hire employees in fourth quarter, 70% will maintain its staff level, and 12 % will reduce manpower.

  • We're happy, but we're not hiring.  // People Management;Mar2014, p6 

    The article reports on employment in Great Britain as of March 2014, focusing on a report from the Chartered Institute of Personnel & Development (CIPD) that suggests improved economic performance is not necessarily leading to more hiring.

  • Establishing a community pharmacy residency at an independent pharmacy: Time allocation and valuation. SHUGART, KATHERINE; BRYANT, JASON; KRESS, DEAN; ZIEGLER, BRYAN; CONNELLY, LYNN; BRITTAIN, KRISTY // American Journal of Health-System Pharmacy;2015 Supplement, Vol. 72, pS140 

    Purpose. The value of a first-year community pharmacy residency program (CPRP) at an independent pharmacy was estimated based on time allocation for resident responsibilities. Methods. Predefined time allocation categories for the pharmacy resident were used to consistently classify and document...

  • Companies need to employ new mindset in hiring workers, says study.  // National Petroleum News;Oct95, Vol. 87 Issue 11, p24 

    Reports on the need to view employee hiring from an economic point of view. Cost of investment for the company; Need for companies to rethink the way they recruit, deploy and retain employees; Methodology to ensure close alignment between business strategy and human resources; Includes...

  • Hire math. Kibbe, Cindy // New Hampshire Business Review;6/19/2009, Vol. 31 Issue 13, p5 

    The article reports that companies in the state of New Hampshire have hired 17,855 people during April 2009. The article reports on the number of employment from April to May 2009 in New Hampshire. According to the New Hampshire Department of Employment Security, companies within the state have...

  • Economic Confidence Rises as More CFOs Plan to Hire.  // Chicago Citizen - South End Edition;11/10/2010, Vol. 43 Issue 40, p4 

    The article presents the survey results from Financial Executives International (FEI) and Zicklin School of Business which show that chief financial officers (CFO) in the U.S. are showing interest in making acquisitions and finding new opportunities to hire despite the high levels of unemployment.

  • Stepping Out After Residency. CROSBY, MIKE // Podiatry Management;Mar2014, Vol. 33 Issue 3, p59 

    The article focuses on key career issues that need to be addressed by third-year podiatry residents. Topics discussed include the need for resident to assess the section of the country that fits best with his or her lifestyle and the creation of a personality profile that can be used in the...

  • September Job Openings in U.S. at Second-Highest Since 2001.  // Bond Buyer;11/14/2014, Vol. 1 Issue F344, p1 

    Job openings in the U.S. held near a 13-year high in September, a sign the pickup in hiring may be sustained through year-end.

  • Layoff Plans Hit 4-Year High. Investor's Business Daily // Investors Business Daily;8/7/2015, pA01 

    8 Employers in July unveiled plans to ax 105,696 workers, the most since Sept. '11. But more than half was due to Army troop and civilian staff cuts. Weekly jobless claims rose 3,000 to a still-low 270,000. Economists see Fri.'s jobs data showing modest hiring and a steady 5.3% jobless rate.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics